Gold - Part 2

GOLD

In my 23rd September, 2011 post, 'Gold - Part 1', I presented the following projection for gold price.


I expected a 1-year wave 4 consolidation after its August 2011 wave 3 high of $1,909.00/oz. I have also projected a $3,000.00/oz for its wave 5's high by 2015.



Since its August, 2011's high, so far it has formed a a-b-c wave pattern.



The wave count as shown below, wave a has 3 waves, wave b has another 3 waves and wave c has 5 waves, a typical 3-3-5, a-b-c formation. Is the 29th December's low of $1,526.00/oz the end of wave 4 ?

Possible, but the duration of four months for wave 4 is rather short compared to the twelve months duration for wave 2. There is a possibility that wave 4 may go for a complex a-b-c-X-a-b-c formation instead of a simple a-b-c formation.




.